What is the cost of an SPA education?
Financing an independent education is a major investment in a child’s future. The costs of attending a school like St. Philip's Academy – with its small classes, superior faculty, personalized attention, and comprehensive programs – are substantial. However, St. Philip's Academy is committed to making this education as affordable as possible for the greatest number of families. Because the actual cost of educating a student at St. Philip’s Academy far exceeds the tuition and fees, every student is, in effect, the recipient of financial assistance. Before assessing tuition, the school subsidizes at least 50-60% of these costs.
Each spring, the Board of Trustees sets the tuition for the following academic year. Tuition is billed according to three plans:
1. The tuition may be paid in full by the first day of classes (in September).
2. Two payments are paid: 65% of total due by September 1, the remaining 35% is due by December 1. The late fee is $25 each month that the second payment is not remitted.
3. A monthly plan that divides tuition into ten payments beginning in July and ending in April. FACTS, a tuition management company coordinates collection. Payments are deducted from a bank account. Families enrolled after July 1 may have fewer than ten payments to assure completion of payments by April. An annual setup fee of $38 per account is deducted with the first payment in July.
For 2011-12, tuition is:
Lower School (Grades K-4): $7,595
Upper School (Grades 5-8): $7,795
Note that during the 2010-2011 school year, each student has received financial assistance of about $10,400 – the difference between the tuition and fees and the actual cost of a St. Philip's Academy education. We mention this fact as a tribute to the hard work of our development office and the generous support of our friends whose contributions have allowed St. Philip's Academy to provide services to students above and beyond what tuition covers. This generosity helps make our school a special place.
To enroll, parents must pay a deposit of $250 per child within two weeks of acceptance. This non-refundable deposit will be applied toward a child’s tuition account. Parents participate in the Tuition Refund Insurance Plan that covers approximately 60% of the tuition obligation in the event of re-location or any other eventuality that may result in a child being unable to complete the year. The cost to participate is 2.2% of tuition only.
Besides tuition, families are required to pay a technology fee, a supplies fee, accident insurance and a Parent Organization fee. The technology fee covers the costs of maintaining our cutting edge computer and multimedia facilities. The supplies fee covers items such as planners, binders, notebooks, folders, consumable workbooks, etc. Pens and pencils are not provided.
Miscellaneous fees for 2010-2011 are as follows:
Technology Fee: $100
Supplies Fee: $90
Accident Insurance: $20
Parent Organization: $10
Private schools rely, in large part, on fundraising. All SPA families are required to participate in school fundraising efforts. The minimum family contribution is $375. This may be raised by participating in a variety of school-sponsored events or by direct payment. Note that all contributions are tax-deductible.
Are there transportation costs?
Transportation is not provided by the school. Many towns offer a partial transportation rebate. Please call the Admissions Office to see if your town is included. Some families use a private company, others car pool and still others have their children take public transportation. The school is easily accessible by bus and train.
Are there lunch costs?
The school contracts with Scholastic Culinary Services, who provides our students with healthy, sustainable, family style lunches each day. Vegetarian options are always offered. This is available at an additional cost of $78.72 per month.
Are there other fees?
Parents are charged additional fees for extended day services (before and/or after school care). There are certain activities offered after school (such as martial arts, fencing and hockey) that may require additional fees for supplies or to cover other expenses. Parents also pay for school uniforms. (However, sometimes gently used uniforms are available at minimal or no cost for parents who may have difficulty affording these items.)